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Portland Real Estate Update By Rob Levy

Portland Real Estate Update April / 14

 

Real estate activity continued to 
see upward momentum this March 
in the Portland metro area! There 
were 3,090 new listings, a 31.3% 
increase over the 2,354 new listings 
posted in February. This was also 
a 2.9% increase from the 3,002 new 
listings posted last March. Pending 
sales, at 2,534, bested February’s 
1,848 by 37.1% but were a 3.6% 
decrease from last March’s 2,628 
pendings. Similarly, the 1,857 
closings were a 26.6% increase 
from February’s 1,467 but fell 4.0% 
compared to the 1,935 closings 
recorded in March 2013.
There are currently 5,811 active 
residential listings in the Portland 
metro area. Total market time in 
the region fell to 85 days in March, 
and inventory decreased to 3.1 
months. 
First Quarter 2014
Real estate activity had a fine start 
the first quarter of 2014, although 
perhaps not as robust as 2013. The 
8,113 new listings represent a 1.9% 
increase over the 7,963 new listings 
posted in the first quarter of 2013. 
There were 6,258 pending sales and 
4,892 closings, down 3.2% and up 
2.2%, respectively, from the 6,466 
pendings and 4,789 closings posted 
in the first quarter of 2013.
Average and Median Sale Prices
The average price in the first 
quarter this year was $322,700, up 
11.2% from the first quarter of 2013 
when the average was $290,300. In 
the same comparison, the median 
rose 9.9% from $247,100 in the first 
quarter of 2013 to $271,600 in the 
same period of 2014.

Real estate activity continued to see upward momentum this March in the Portland metro area! There were 3,090 new listings, a 31.3% increase over the 2,354 new listings posted in February. This was also a 2.9% increase from the 3,002 new listings posted last March. Pending sales, at 2,534, bested February’s 1,848 by 37.1% but were a 3.6% decrease from last March’s 2,628 pendings. Similarly, the 1,857 closings were a 26.6% increase from February’s 1,467 but fell 4.0% compared to the 1,935 closings recorded in March 2013. There are currently 5,811 active residential listings in the Portland metro area.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total market time in the region fell to 85 days in March, and inventory decreased to 3.1 months. First Quarter 2014Real estate activity had a fine start the first quarter of 2014, although perhaps not as robust as 2013. The 8,113 new listings represent a 1.9% increase over the 7,963 new listings posted in the first quarter of 2013. There were 6,258 pending sales and 4,892 closings, down 3.2% and up 2.2%, respectively, from the 6,466 pendings and 4,789 closings posted in the first quarter of 2013.

Average and Median Sale PricesThe average price in the first quarter this year was $322,700, up 11.2% from the first quarter of 2013 when the average was $290,300. In the same comparison, the median rose 9.9% from $247,100 in the first quarter of 2013 to $271,600 in the same period of 2014.

 

Our featured home this month is in Forest Grove.  Its a lovely traditonal style home on a large lot for a tremendous price. Its amazing to me how much more home you can get in Forest Grove compared to closer in Beaverton, Tigard etc.  And you get the small town feel too!  Its perfect for anyone working in Hillsboro, Beaverton, Sunset Corridor.  Check it out here...  http://www.roblevy.com/Property/342-BLUE-JAY-AVE-Forest-Grove-14631376


2014 Fittest City in America - Portland!

Mens Fitness Magazine has ranked Portland as the "fittest city in America".  You can see the full article below, but suffice to say they claim 86% of us get regular exercise, and of course us constantly being ranked one of America's top Bike cities year after year.  The fitness part isnt surprising...  We are the world headquarters of Nike, Columbia Sportswear, the North American headquarters of Adidas and there is an "outdoors" culture. Combine this with pristine beaches close by, four terrific ski areas including America's largest lit ski area for night skiing and the countless things to do outside in our temperate climate.  You can view the full article here...  http://www.mensfitness.com/life/travel/2014-fittest-city-america-portland

Find a home, on your phone!

I know you are using it because the "hits" from mobile users is through the roof.  I think we have the simplest tool out there to view homes on a mobile phone - no app needed.

Whenever you drive by a home in Metro Portland, and want to know the price simply go to www.RobLevy.com on your smartphone and hit the "Search" button.  Then hit "find me"at the  bottom left and it will show you all the listed homes right around you - with pictures, maps and more!   I am super excited about this new service, so please check it out today and let me know what you think.

 D